December, 2009

The Risks of New Restrictions on Payday Lending and Title Lending

  • Todd Zywicki

    Senior Fellow, F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics
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Although there is no evidence that non-traditional lending products such as payday and title lending contributed to the financial crisis, Congress is considering new regulations on such products. However, economic theory and empirical evidence suggest that these proposals would hurt the very people they are intended to help.